GameStop is considering investing in bitcoin and other cryptocurrencies, sources say
Published On Feb 13, 2025, 4:31 PM
GameStop is considering investing in cryptocurrencies, specifically bitcoin, as it explores alternative asset classes. This move comes as CEO Ryan Cohen engages with prominent figures in the crypto space. Despite this interest, the company hasn't finalized its decision and may opt not to proceed with the investment. In prior efforts, GameStop had launched crypto wallets but ceased operations due to regulatory challenges. As of late 2023, GameStop had significant cash reserves, which it plans to use for various investments. The potential shift towards crypto mirrors similar strategies employed by companies like MicroStrategy.
Stock Forecasts
GME
Positive
If GameStop proceeds with investing in bitcoin or other cryptocurrencies, it could positively impact investor sentiment and drive shares higher, as seen with similar strategies in other firms. However, the lack of a definitive plan creates uncertainty.
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